The Research On M&A Of Chinese Construction Industry In Financial Crisis

With the rapid development of economic globalization, the relationship between the worlds becomes closer and closer. In 2007, financial crisis broke out in the USA, with its spread,all over the world economy are influenced on different degree, in the latter half of 2008,it came to our country, under this special condition, the government promptly issued corresponding support measures, which include ten policies. In these ten policies, there are three measures are related to construction industry. Based on the above background, this paper analyzes the M&A of construction industry.In this paper, the theoretical research and case studies are combined. The first job is to analyze industry overview and market structure, Industry Endgame Curve make us better anticipate the future industry development, as well as make forecast possible to industry mergers and acquisitions that will occur, Then in the paper, based on Industry Endgame Curve,we estimate the M&A type of construction industry. Studies suggest that the construction industry is in the late start-up phrase, in this phrase, competition is relatively fierce, the type of horizontal mergers and acquisitions should be the mainstream of the type of M&A, which improve the industry concentration and strengthen competitiveness. Finally, though these analyses, we come to an inconsistent conclusion that the characteristics of different stages of evolution can occur one correspondence in different types of M&A cause, however, this change is beneficial to the enterprise.What is more, it can provide some references for the later development of construction industry.